these questions.
1. How has the end of the first time home buyers tax credit affected your real estate market?
2. Has your market gone up or gone down? What percentage would you guesstimate that it is up or down?
TAX CREDIT CHANGE - WILL IT AFFECT YOUR POCKET BOOK?
I do some consulting for a New York investment firm and they asked these questions about my local market. It got me thinking how the end of the first time home buyer tax credit was affecting the rest of the country.
Here in Detroit sign calls and first time buyers have dried up. I have noticed internet leads are down and phones are a little slower. Showings are down. Depending on who you talk to, the real estate first time home buyers market has dropped from 20% to 70%. But our listing inventory for the Southeastern Michigan area has not changed in the last month. No increase in our inventory yet.
So what is happening your neck of the woods? Mortgage people have applications or inquiries dropped?
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